It’s already been noted that Warren Buffett seemed to get a much better deal on his Goldman Sachs capital injection than the Treasury Department did. It turns out the United Steelworkers union has been kind enough to actually run the numbers on the two deals, using the Black-Scholes option pricing model to value them (steel [...]
Here’s a little something I wrote last January on the way home from the World Economic Forum in Davos: After hearing various gloomy pronouncements from members of TIME’s Board of Economists, audience member C. Fred Bergsten of the Peterson Institute for International Economics grabbed a mike, stood up and declared that growth in emerging markets [...]
Synovate, a firm that tracks credit-card mail volume, today released its third-quarter figures. Not surprisingly, folks are getting a lot fewer offers in their mailboxes these days: 940 million pitches went out in the first nine months of 2008, down 27% from the same period in 2007. But, in a fascinating little twist, both credit [...]
Sorry for being way behind on the big news of the day. Stuff’s been happening here in the Time & Life Building. Anyway, the government has decided to renegotiate and ease the terms of its deal with AIG. Reports the WSJ: Under the terms ironed out late Sunday, the government would give AIG more money, [...]
I’ve been among those arguing that GM ought to shut up about a government bailout and use the well-established bailout/reinvention tool that is Chapter 11 bankruptcy to pave the way for a better future. Now here, courtesy of the WSJ’s John Stoll, are GM’s three arguments for why that’s not an option–followed by my analysis [...]
